Columbia Capital LP

“Fees and Compensation.”

         From time to time, the Adviser will, in certain circumstances, enter into solicitation
arrangements pursuant to which it compensates third parties for referrals that result in a potential
investor becoming a Limited Partner in a Fund. Any fees payable to any such placement agents will be
borne by the Adviser indirectly through an offset against the Management Fee, although related
expenses incurred pursuant to the relevant placement agent or similar agreement, including, but not
limited to, placement agent travel, meal and entertainment expenses, typically are borne by the relevant
Fund(s).

Item 7 - Types of Clients
         As described in Item 4 “Advisory Business,” the Adviser provides investment advisory services
only to Funds, which are investment partnerships, or similar entities, which are exempt from
registration under the Investment Company Act. The Investors participating in the Funds will, in certain
circumstances, include individuals, banks or thrift institutions, other investment entities, university
endowments, sovereign wealth funds, family offices, pension and profit-sharing plans, trusts, estates or
charitable organizations or other corporations or business entities and will, in certain circumstances,
include, directly or indirectly, Managing Partners, non-managing partners or other employees of the
Adviser and its affiliates and members of their families, and Venture Partners or other service providers
retained by the Adviser.
        Interests in the Funds are offered in private placements under the U.S. Securities Act of 1933,
as amended (the “Securities Act”). As a result, limited partner (or equivalent) interests in the Funds are
generally offered to a limited number of “accredited investors” as defined in Regulation D under the
Securities Act and, in most cases, exclusively to “qualified purchasers” as defined in Section 2(a)(51)
of the U.S. Investment Company Act of 1940, as amended.
         The minimum investment commitment required of an investor to participate in a Fund is as set
forth in such Fund’s governing documents. Such minimum investment amounts will, in certain
circumstances be increased or decreased by the Adviser and the applicable General Partner in their
discretion. Investors should refer to the governing documents of each Fund for complete information
on minimum investment requirements for participation in such Fund.